Sangoma Technologies Corporation (SANG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-99.6%

$0.02

vs $4.63 price

Levered DCF

$2.68

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.57

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-1.59×	-28.81×	-13.83×	-3.16×	-1.89×	-5.81×	42.01×	52.36×
P/B	0.72×	0.8×	0.62×	0.46×	0.9×	1.71×	2.97×	2.51×
P/S	0.64×	0.63×	0.48×	0.37×	0.92×	2.87×	1.69×	0.96×
EV / EBITDA	5.18×	5.81×	5.66×	19.24×	-4.16×	-11.62×	10.78×	10.56×
Gross margin	50.8%	68.3%	69.9%	68.4%	69.9%	69.9%	64.6%	60.9%
Operating margin	-6.7%	-0.5%	-0.4%	-1.2%	-2.5%	-2.5%	7.8%	6.7%
Net margin	-40.5%	-2.1%	-3.5%	-11.5%	-49.4%	-49.4%	3.0%	1.4%
Current ratio	0.78×	0.86×	0.95×	0.98×	0.78×	0.97×	1.09×	1.17×
Debt / equity	0.2×	0.22×	0.34×	0.43×	0.42×	0.24×	0.9×	0.54×
Interest coverage	-5.63×	-0.3×	-0.16×	-0.44×	-1.43×	-1.11×	4.03×	5.28×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-45.2%	-2.7%	-4.6%	-14.4%	-48.5%	-29.5%	5.2%	3.7%
Return on invested capital	-5.8%	-0.4%	-0.4%	-0.9%	-1.6%	-1.1%	5.4%	5.7%
Return on assets	-33.5%	-2.0%	-3.0%	-8.7%	-28.6%	-20.5%	2.2%	1.6%
Free cash flow yield	17.0%	16.3%	20.7%	12.4%	6.0%	2.5%	6.9%	8.6%
Earnings yield	-62.9%	-3.4%	-7.4%	-31.4%	-53.9%	-17.2%	1.8%	1.5%
Enterprise value	$149M	$245.3M	$233.8M	$226.5M	$374.3M	$710.7M	$192M	$88.4M
Net debt / EBITDA	0.82×	1.01×	1.77×	8.83×	-1.22×	-1.1×	1.64×	1×
Cash conversion cycle (days)	-10	-7	-1	9	-15	-31	21	-29